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March, 2010:

San Mateo Housing Market on the Rise!

Mar 30th, 2010
by Kathy Rain.
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It seems that California has weathered the real estate market storms are beginning to see growth!  The San Mateo Coastal area is no different and has seen an increase in home median prices and sales.  According to a recent study from MDA Data Quick, statewide median home prices rose 11% in February and total sales were up 8%.  It is apparent that we are on the upswing of the last year or so of economic recession.

According to First American Core Logic statisticians, the next 12 months will bring about a gain of 4.5% in home prices. Last month alone, an estimated 28,111 new and resale houses and condos were sold in California, which rose 9% from January sales.  The average mortgage payment last month was $1,068.

The below chart shows the growth in Median Home Sale Prices from 2009 to 2010 San Mateo Coastal Real Estate market.

It’s exciting time in the San Mateo Coastal area as we are seeing new homes coming on the market and are seeing properties sold!  If you are looking for a home in this desirable Coastal region, we’d love to assist you in your search.  We currently have some great properties available which we would be happy to show you!  Looking to sell?  We can help you through the process from start to finish!  We look forward to hearing from you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Your San Mateo Coastal Home’s Spring Checklist

Mar 23rd, 2010
by Kathy Rain.
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Spring has officially arrived in the San Mateo Coast and as the weather grows warmer and flowers come into full bloom, it’s easy to want to be outside as much as possible.   While you’re outside you may want to take some time to survey your yard and your home to make sure it has completely recovered from the winter weather.

Below you’ll find a checklist of outdoor and indoor maintenance that you’ll want to check into within the next few weeks in order to get your San Mateo home up to speed for the season.

Outside

1.  Clean Up the Front Entry- View the home as if you are a visitor.  Scrub winter grime away from porch steps or door and window frames.  Repaint items as needed and look for ways to clean up the homes’ curb appeal.
2. Check for Roof Dams- Get a ladder and remove any sticks, leaves and debris from the gutters.  Check skylights or chimneys for rust or holes and make repairs as needed.
3. Check for Water Under the House- Even if it has rained recently, the underneath of the house should be dry.  If it is wet, check for leaks in the homes interior or around the exterior for seepage.  Water flow should go away from the home, so some landscaping may need to be updated.
4. Hire an Inspector- To stay on top of your home’s maintenance and be pro-active against expensive repairs, hire a home inspector to check your home thoroughly. The cost may be around $300, but is well worth it in the long run.

Inside

Get rid of household smells:
1. Clean the garbage disposal- It’s good to get in the habit of doing this monthly.  By simply making vinegar ice cubes and running them through the disposal, you can eliminate odors.
2.  Clean or Replace Garbage Cans- Check garbage receptacles for any cracks or holes. Clean with a baking soda and water mixture.  Clean the refrigerator in the same way to clean thoroughly and remove odors.
3. Eliminate Bathroom and Kitchen Odors- Moisture trapped in these rooms can cause mildew and mold.  Check rooms thoroughly specifically looking at grout for cracks and all appliances for leaks.
Water Saving Devices:
4. Toilet Tank Displacers- These help lower the use of water as many older toilets use much more water than needed.  Be sure to check specifications before buying displacers.
5. Aerators- These are designed for faucets and put air into your water to reduce the amount of water being used and are a great way to cut down on water costs.
6.  Inspect and Repair Drywall- Walk around the interior of your home and repair any holes you may find with putty.  Prime and paint over the putty as needed.

Keeping an eye out for these types of maintenance issues will contribute to your homes’ longevity!  If you’re hoping to sell your home and buy up in the San Mateo market; we’d love to help and answer any questions you may have.  We enjoy finding the right buyer for a home and helping people find the home they’ve always wanted!  Feel free to contact us anytime.

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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Bay Area’s High-End Housing Market Gaining Momentum by Rick Turley

Mar 21st, 2010
by Kathy Rain.
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Along with the beautiful early spring weather, the Bay Area’s housing market is gradually starting to warm up, too. We’re off to a much more robust and healthy start this year, and it’s not just in the lower price ranges. The mid-to-upper level market is picking up from Silicon Valley through the Peninsula and up through Marin and across to parts of the East Bay.

As I mentioned in an interview with the San Jose Mercury yesterday, after the financial market meltdown a year ago, high-end home sales dried up during the first half of 2009. Compared to those days, homes sales in higher price ranges are much more active now, pushing up median prices around the Bay. And with relatively few homes on the market in Silicon Valley and on the Peninsula, prices have stabilized and buyers are now competing for good listings.

Half of the sales reported by our Los Altos office drew multiple offers, for example.  One Sunnyvale home listed at $950,000 drew 12 offers and sold for more than $1 million. In Palo Alto, we’re seeing eight to 10 multiple offers for properties that are well-priced.  The San Francisco Van Ness office says some well-priced high-end listings are selling in 10-15 days. The same story is being told in Menlo Park, Southern Marin, Orinda – in fact, most of the Bay Area’s higher-end markets.

We just released our Coldwell Banker Residential Brokerage Luxury Report this week, and it shows million-dollar home sales in Marin nearly tripled last month from a year ago, while the median sale price jumped 25 percent.  The same was true in Silicon Valley, where luxury sales nearly doubled as the median price edge higher.

Now don’t get me wrong. While we’re seeing a promising recovery in many of our markets, we’re still fighting our way back to normalcy. The nation’s economy recovery is still very fragile. And the housing market’s gradual improvement must be sustained over time in the face of a challenged job market.  But the signs are encouraging that all sectors of our local housing market are slowly coming to life again.

Here’s a market-by-market report from our local offices:

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